Tencent Q1 revenue jumps 26% as lockdowns spur game spending

1 Min Read

HONG KONG, May 13 (Reuters) - Chinese gaming and social media giant Tencent Holdings Ltd said on Wednesday net profit in its first quarter rose 6%, beating market estimates, boosted by high demand for its video games during the pandemic.

The world’s largest gaming firm by revenue booked a 28.90 billion yuan ($4.07 billion) profit for the three months through March. That was ahead of an analyst average estimate of 23.84 billion yuan, according to data from Refinitiv.